Company Profile of Vale Indonesia: Indonesia's Largest Nickel Producer
Indonesia Investments updated the company profile of PT Vale Indonesia Tbk. Vale Indonesia, a subsidiary of the world's second-largest mining company headquartered in Brazil, is Indonesia's largest nickel producer. The company explores, mines, processes and produces nickel in matte, an intermediate product, from lateritic ores at its mining and processing facilities near Sorowako on the island of Sulawesi. At end 2013, Vale Indonesia had proven mineral reserves amounting to 94.2 million metric tons (Mt) and probable mineral reserves of 33.3 million Mt.
Vale Indonesia recorded a 43 percent fall in net profit to USD $18.0 million in the first quarter of 2014 from the same period in the previous year. The decline was particularly caused by falling prices for metal. The company's revenue declined by 18 percent (yoy) to USD 213.1 million.
Visit Vale Indonesia's company profile
Vale Indonesia's Financial Highlights:
2008 | 2009 | 2010 | 2011 | 2012 | 2013 | |
Nickel in Matte Production¹ |
72,385 | 67,329 | 75,989 | 66,900 | 70,717 | 75,802 |
Revenue | 1,312.1 | 761.0 | 1,276.3 | 1,242.6 | 967.3 | 921.6 |
Gross Profit | 503.2 | 244.9 | 624.9 | 515.4 | 166.7 | 139.9 |
Profit before Tax |
463.3 | 236.7 | 581.3 | 452.3 | 91.4 | 55.5 |
Net Profit |
359.3 | 170.4 | 437.4 | 333.8 | 67.5 | 38.7 |
Total Assets | 1,843.2 | 2,027.6 | 2,190.2 | 2,421.4 | 2,333.1 | 2,281.1 |
Total Liabilities | 322.3 | 446.3 | 510.4 | 652.2 | 611.6 | 566.9 |
EBITDA | 550.1 | 327.8 | 679.6 | 552.0 | 215.5 | 203.5 |
Earnings per Share² | 0.036 | 0.017 | 0.044 | 0.034 | 0.007 | 0.004 |
Dividend per Share² | 0.02264 | 0.01107 | 0.01410 | 0.01000 | 0.00252 | |
P/E Ratio (x) | - | 22.0 | 12.0 | 10.0 | 35.0 | 56.0 |
in million US dollar unless otherwise stated
¹ in tons
² in US dollar
Source: Vale Indonesia, Annual Report 2013
Future Projection Vale Indonesia's Financial Highlights:
2012 | 2013 | 2014F | 2015F | 2016F | |
Revenue | 967.3 | 921.6 | 1,039.0 | 1,053.0 | 1,229.0 |
Net Profit |
67.5 | 38.7 | 166.2 | 204.7 | 289.4 |
EBITDA | 552.0 | 215.5 | 405.7 | 458.6 | 576.8 |
P/E Ratio (x) | 35.0 | 56.0 | 15.2 | 12.8 | 9.55 |
in million US dollar unless otherwise stated
Sources: Vale Indonesia, Annual Report 2013 & CIMB Securities